Ethiopia Charges 14 Over Suspect Ship-Buying at Conglomerate

  • Ex-METEC employees accused of roles in misuse of $19 million

  • Military-industrial corporation has been crucial to economy

By Nizar Manek, 14 January 2019
(Bloomberg) --
Ethiopian police charged 14 former employees of Metal & Engineering Corp., a key military-industrial conglomerate, with alleged corruption related to the purchases of two ships.
Former METEC Director-General Kinfe Dagnew was among those charged Monday at the Federal High Court, accused of playing roles in the misuse of more than 544 million birr ($19.1 million), Fana Broadcasting Corp. reported, citing proceedings. Bloomberg wasn’t able to reach Kinfe’s lawyer for comment.
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